Date
26 July 2017
Yahoo's board is reported to be weighing options for its core Internet business, including a potential sale. Photo: Bloomberg
Yahoo's board is reported to be weighing options for its core Internet business, including a potential sale. Photo: Bloomberg

Yahoo’s Internet business said to be drawing several suitors

Several potential suitors are emerging for Yahoo’s core Internet business as the company’s board weighs possible sale of the operations, according to the Wall Street Journal.

The suitors range from media and telecommunications giants to private-equity firms, the paper said.

Verizon Communications and IAC/InterActive Corp. are among the entities that might be exploring a purchase, sources were quoted as saying.

News Corp. and Time Inc. could also be interested in pieces of Yahoo, if they become available, the sources said.

Meanwhile, private-equity firm TPG Capital is said to have looked at buying media properties within Yahoo.

Despite Yahoo’s struggles, the potential buyers would be attracted to the company’s vast reach, the Journal noted.

The paper earlier reported on Tuesday that Yahoo’s board plans to consider significant strategic options at meetings this week.

The discussions will include potential sale of the core business and whether to spin off the firm’s investment in Chinese e-commerce giant Alibaba Group, the report said.

Yahoo’s board began Wednesday a three-day meeting.

The company’s shares surged nearly 6 percent overnight amid speculation over potential asset sale. 

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CG/RC

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